Trust Company of the West's (TCW) case against Jeff Gundlach and three of his DoubleLine colleagues now rests. Yesterday TCW called its last witness, ex-TCW president Bill Sonneborn, in its legal battle with its former chief investment officer, and DoubleLine's attorneys began calling their witnesses for their cross-claim (the California term for counter-suit).

To read the rest of the story of the fight between Gundlach and TCW, click here.

Bloomberg, the Los Angeles Times, Reuters all reported on yesterday's testimony.

Sonneborn, now head of KKR Asset Management, testified that he told TCW CEO Marc Stern in August 2009 to fire Gundlach, describing Gundlach as "close to the point of becoming a disease or a cancer at the company."

Then yesterday afternoon, DoubleLine's attorneys started calling their witnesses. In a videotaped deposition, TCW chairman and founder Robert Day called Gundlach "unstable" but important because of his "tremendous track record."

DoubleLine attorney Brad Brian said he plans to call his final witness next Wednesday. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE